Rupee seen edging higher; importers to curb rise

The rupee is likely to edge higher against dollar versus its previous close of 54.86/87, tracking a mild risk-on mood in regional markets.

However, the upside is likely to be limited.

Traders expect all dips in the dollar to be bought by importers, preventing a very sharp fall.

The pair is seen opening around 54.80 and moving in a 54.70 to 55.10 range initially in the session.

The Nifty India stock futures traded in Singapore currently trading up 0.1 percent.

Asian shares rebounded after a sharp sell-off triggered by slumping Chinese stocks the previous session, as a globally accommodative monetary stance helped eased concerns and revived risk appetite.

Most Asian currencies trading stronger compared to the dollar.